Question
The change described above should be classified as square an increase in the demand for fish a decrease in the quantity of fish demanded an increase in the quantity of fish demanded a decrease in the demand for fish
Solution
4.2
(252 Votes)
Miriam
Elite ยท Tutor for 8 years
Answer
###an increase in the quantity of fish demanded
Explanation
##Step 1: Analyzing the Price Change and its Effect on Quantity Demanded###The problem states that the price of fish has decreased. According to the law of demand, a decrease in price leads to an increase in the quantity demanded. This change affects the quantity demanded, not the demand curve itself.##Step 2: Identifying the Correct Classification###The change is an increase in the quantity demanded, not a shift in the demand curve.#